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GLOBAL IMBALANCES

Curcuru, S., T. Dvorak, and F. Warnock, 2008a. Cross-Border Returns Differentials. Quarterly Journal of Economics (forthcoming). Earlier versions released as Federal Reserve Bank of Dallas Globalization and Monetary Policy Institute Working Paper No. 4, NBER WP 13768, and Federal Reserve International Discussion Paper No. 921. Media citations: Die Zeit's Herdentrieb

Curcuru, S., T. Dvorak, and F. Warnock, 2008b. The Decomposition of the U.S. External Returns Differential (April 2008 draft). Revision of The Stability of Large External Imbalances: The Role of Returns Differentials (NBER WP 13074. Short Synopsis in NBER Digest. Media citations: Dow Jones News, WSJ Blog.

Curcuru, S., C. Thomas, and F. Warnock, 2008. Current Account Sustainability and Relative Reliability. NBER International Seminar on Macroeconomics (forthcoming). Data underlying our adjustments to the international accounts.

Warnock, F., 2008. The Impact of a Disorderly Resolution of Global Imbalances on Global Wealth. Economic Notes - Review of Banking, Finance and Monetary Economics (forthcoming). Spreadsheets containing data. Earlier version, entitled 'How might a disorderly resolution of global imbalances affect global wealth?', was prepared for the 2006 IMF Article IV Consultation for the US. Media citations:  Reuters, National Post, Reuters(2), Gulf Times (Qatar), IMF Survey, Prado (Brazil), National Economic and Social Development Board (Thailand).

CRISES: CURRENT ACCOUNT REVERSALS, SUDDEN STOPS, SUDDEN FLIGHT

Freund, C., and F. Warnock, 2007. Current Account Reversals in Industrial Countries: The Bigger They Are, The Harder They Fall? in R. Clarida (ed) G7 Current Account Imbalances: Sustainability and Adjustment. University of Chicago Press, pgs 133-162. Original version available as NBER Working Paper 11823. Street and media cites: Investors Chronicle, Goldman Sachs, Merrill Lynch, Kansas City Star.

Rothenberg, A., and F. Warnock, 2006. Sudden flight and true sudden stops. NBER WP 12726. IIIS Discussion Paper 187.

Faucette, J., A. Rothenberg, and F. Warnock, 2005. Outflows-Induced Sudden Stops. Journal of Policy Reform 8(2): 119-130.

INTERNATIONAL CAPITAL FLOWS AND INTEREST RATES

Warnock, F., and V. Warnock, forthcoming. International capital flows and U.S. interest rates. Journal of International Money and Finance. Previous versions issued as Federal Reserve International Finance Discussion Paper #840, Trinity College Dublin IIIS Discussion Paper 103, and NBER WP 12560. Short Synopsis in NBER Digest. Street and Media citations:  Reuters, Barrons(1), Barrons(2), Wall Street Journal, AFX Press, The Economist, NPR, ICICI Bank, International Herald Tribune, Philadelphia Inquirer, NCPA, Seattle Times, Akron Beacon Journal, Corvallis Gazette-Times, Kansas City Star, Boston Globe, USAToday, Dow Jones, The Business, UCLA Anderson Forecast, Cato Institute. Related Testimony: East Asian Reserves Accumulation and U.S. Interest Rates. Testimony for the U.S-China Economic and Security Review Commission’s Hearing “China’s Financial System and Monetary Policies: The Impact on U.S. Exchange Rates, Capital Markets, and Interest Rates” (August 2006). Street and Media citations: Payden and Rygel's Point of View

Kodres, L., and F. Warnock, 2006. The Impact of Petrodollars on U.S. and Emerging Market Bond Yields. Box 2.3 in the IMF's April 2006 World Economic Outlook. Media Cite: Fund Strategy Magazine, PIMCO

MISCELLANEOUS

Edison, H., and F. Warnock, 2003. A simple measure of the intensity of capital controls.  Journal of Empirical Finance 10(1): 2003, 81-103.

Edison, H., and F. Warnock, 2008. Cross-border listings, capital controls, and equity flows to emerging markets. Journal of International Money and Finance 27: 1013-1027.

Warnock, F., and C. Cleaver, 2003. Financial centers and the geography of capital flows. International Finance 6(1): 27-59. Street and media cites: Morgan Stanley(1), Morgan Stanley(2), WSJ, WSJ Asia, WSJ Europe, Reuters, Dow Jones.

Warnock, F., 2002. Home Bias and High Turnover Reconsidered. Journal of International Money and Finance 21: 795-805.

Griever, W., G. Lee, and F. Warnock, 2001. The U.S. system for measuring cross-border investment in securities: a primer with a discussion of recent developments. Federal Reserve Bulletin 87(10): 633-650.

Warnock, F., 2003. Exchange rate dynamics and the welfare effects of monetary policy in a two-country model with home product bias. Journal of International Money and Finance 22: 343-363.

Warnock, F., and M. Mason, 2001. The geography of capital flows. Emerging Markets Quarterly 5(1): 15-29.